State of New Jersey Common Pension Fund D Trims Stock Holdings in Flex Ltd. (NASDAQ:FLEX)

State of New Jersey Common Pension Fund D decreased its holdings in Flex Ltd. (NASDAQ:FLEX) by 34.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 403,885 shares of the technology company’s stock after selling 216,649 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Flex were worth $12,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Stratos Wealth Advisors LLC increased its stake in shares of Flex by 3.1% in the third quarter. Stratos Wealth Advisors LLC now owns 14,952 shares of the technology company’s stock worth $403,000 after purchasing an additional 452 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Flex by 3.8% during the third quarter. Oppenheimer & Co. Inc. now owns 13,657 shares of the technology company’s stock valued at $368,000 after acquiring an additional 497 shares in the last quarter. Wahed Invest LLC grew its stake in Flex by 8.1% during the third quarter. Wahed Invest LLC now owns 7,077 shares of the technology company’s stock valued at $191,000 after acquiring an additional 530 shares in the last quarter. Park Avenue Securities LLC grew its stake in Flex by 1.5% during the third quarter. Park Avenue Securities LLC now owns 40,768 shares of the technology company’s stock valued at $1,100,000 after acquiring an additional 589 shares in the last quarter. Finally, Veracity Capital LLC grew its stake in Flex by 7.8% during the fourth quarter. Veracity Capital LLC now owns 8,253 shares of the technology company’s stock valued at $251,000 after acquiring an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Flex Trading Up 0.7 %

Shares of FLEX traded up $0.20 during mid-day trading on Thursday, reaching $28.70. The company’s stock had a trading volume of 2,513,555 shares, compared to its average volume of 4,857,604. The stock has a market cap of $12.09 billion, a PE ratio of 17.07, a P/E/G ratio of 1.78 and a beta of 1.19. The company has a current ratio of 1.59, a quick ratio of 0.86 and a debt-to-equity ratio of 0.53. Flex Ltd. has a 52 week low of $19.44 and a 52 week high of $30.93. The company’s fifty day moving average price is $28.44 and its two-hundred day moving average price is $26.76.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $6.73 billion. Flex had a net margin of 2.56% and a return on equity of 16.24%. On average, analysts predict that Flex Ltd. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on FLEX. JPMorgan Chase & Co. boosted their price objective on shares of Flex from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their target price on shares of Flex from $29.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Finally, StockNews.com started coverage on shares of Flex in a research report on Wednesday, March 6th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Insider Transactions at Flex

In related news, CAO Daniel Wendler sold 1,860 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Daniel Wendler sold 1,860 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $28.89, for a total transaction of $53,735.40. Following the completion of the sale, the chief accounting officer now directly owns 28,730 shares in the company, valued at approximately $830,009.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Scott Offer sold 75,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $27.52, for a total transaction of $2,064,000.00. Following the sale, the executive vice president now owns 162,094 shares of the company’s stock, valued at $4,460,826.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,943 shares of company stock worth $4,055,311. 0.56% of the stock is currently owned by insiders.

Flex Company Profile

Flex Ltd. provides technology, supply chain, and manufacturing solutions in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The FAS segment offers flexible supply and manufacturing system comprising communications, enterprise and cloud solution, which includes data, edge, and communications infrastructure; lifestyle solution including appliances, consumer packaging, floorcare, micro mobility, and audio; and consumer devices, such as mobile and high velocity consumer devices.